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“Snowy Mountain” was the second most expensive item sold at the auction, that featured 28 of Mr Cui’s ink paintings. Another of his works, “Landscape in Snow” sold for HK$184 million.

“The police checked the CCTV footage but have not told us what happened,” said a spokesman for the Grand Hyatt. “I do not know if it was thrown in the bin by a cleaner, and if it was, I do not know if the cleaner worked for the hotel, for a separate agency, or for Poly”. Poly did not return a request for a comment.

The Hong Kong media said the police spotted the painting sitting next to a pile of rubbish that was later thrown away.